Covestor Ltd Has $144,000 Stock Position in L3Harris Technologies Inc (NYSE:LHX)

Covestor Ltd lessened its stake in L3Harris Technologies Inc (NYSE:LHX) by 30.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 687 shares of the company’s stock after selling 307 shares during the quarter. Covestor Ltd’s holdings in L3Harris Technologies were worth $144,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in LHX. GAMMA Investing LLC boosted its holdings in shares of L3Harris Technologies by 18,295.3% in the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock valued at $107,424,000 after buying an additional 510,438 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of L3Harris Technologies by 15.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock valued at $486,898,000 after buying an additional 311,886 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of L3Harris Technologies by 60.8% in the 1st quarter. JPMorgan Chase & Co. now owns 767,493 shares of the company’s stock valued at $160,644,000 after buying an additional 290,269 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of L3Harris Technologies by 64.2% in the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock valued at $155,691,000 after buying an additional 289,514 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $53,011,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on LHX. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Robert W. Baird raised their price target on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Susquehanna raised their price target on L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a report on Friday, July 25th. Wall Street Zen downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada raised their price target on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $279.47.

L3Harris Technologies Stock Down 1.5%

Shares of NYSE LHX opened at $269.69 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $280.52. The stock has a market capitalization of $50.46 billion, a P/E ratio of 30.13, a PEG ratio of 1.97 and a beta of 0.77. The stock’s fifty day moving average is $258.25 and its 200 day moving average is $229.92.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter last year, the business earned $3.24 earnings per share. L3Harris Technologies’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a $1.20 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider owned 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 72,000 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $271.14, for a total value of $19,522,080.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at $39,472,018.92. The trade was a 33.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,061 shares of company stock worth $28,227,077 in the last 90 days. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.